The ISEQ closed 51 points higher today as world equity markets were battered by another wave of profit warnings from technology companies.
In Dublin the leading bank shares were weaker after the ECB kept interest rates on hold at 4.5 per cent despite rising concerns of a recession in Germany - the euro zone’s largest economy.
AIB fell 28 cents to euro 11.30 and Bank of Ireland shed 20 cents to euro 13.10.
CRH published details of its acquisitions made in the first half of the year which were worth a total of euro 294 million. But concern over the company’s exposure to the weakening US market dragged the share lower to close 40 cents down at euro 20.50.
In London the profit warning by telecoms company Marconi cast a cloud over the day.
The FTSE 100ended the day down 50.9 points at 5,549.6, well above its earlier bottom at 5,509.7, but below an opening tick up to 5,601.3.
Trading was dominated by extraordinarily strong volume in Marconi, where some 510 million shares - equivalent to around 18 per cent of its total market cap - changed hands in frenzied trading.
Adding to the gloom in the TMT sectors was a warning from Baltimore Technologies. The company announced a major restructuring plan involving further job cuts amid fears the company may run out of cash in the fourth quarter.
Baltimore shares fell 8 cents to 17p on the London market today, a loss of 32 per cent.